Coinbase Eyes Deribit Acquisition in Strategic Crypto Derivatives Expansion

Coinbase (COIN), a leading U.S. crypto exchange, is reportedly in advanced talks to acquire Deribit, a top global crypto derivatives platform, according to Bloomberg. The potential deal comes amid a friendlier regulatory climate under the Trump administration, sparking renewed momentum and investor confidence across the crypto market.

Sources say both companies have informed Dubai regulators — where Deribit holds its license — about the ongoing discussions. While no final agreement has been reached, this move would mark a significant leap for Coinbase into the booming crypto derivatives sector, an area where it currently has limited presence.

Deribit has become a dominant force in the derivatives space, handling nearly $1.2 trillion in trading volume in 2024 — almost double that of the previous year. A purchase by Coinbase would grant it immediate access to this high-growth segment and allow it to diversify its revenue beyond spot trading. Earlier reports suggested Deribit could be valued between $4 billion and $5 billion, highlighting its strong market position.

This news follows a broader trend of U.S. exchanges doubling down on derivatives. Just this week, Kraken — another major U.S. player — announced a $1.5 billion acquisition of NinjaTrader, further solidifying the competitive push into leveraged products and futures trading.

With institutional and retail demand for derivatives surging, Coinbase’s potential acquisition of Deribit could reshape the competitive landscape and position it as a leading force in both spot and derivatives markets. As regulatory clarity improves and market infrastructure matures, these moves signal a new chapter of growth and consolidation in the crypto industry.